US Economy Keeps Charging Ahead, Adding Pressure on Fed to Hike
- Retail sales, manufacturing data show strong demand for goods
- Homebuilder sentiment also rose again after year-long decline
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The US economy showed remarkable resilience at the start of the year, highlighting robust demand that’s keeping inflation elevated and heaping pressure on the Federal Reserve to stomp the brakes even harder.
Retail sales rose last month by the most in nearly two years, and separate measures of manufacturing also came in better than expected, according to data out Wednesday. And homebuilders are feeling more confident as mortgage rates settle back from their highs late last year.